A week prior to its debut at ICE London, Game Payment Technology’s (GPT) cashless payments app confirmed a payment-acquiring agreement with what it described as “one of the top three U.K. acquirers.” The deal concludes months of by the payment’s team from GPT’s JV partner, Polar Moment and represents the first such deal with a Tier 1 U.K. bank for cashless gaming in pubs and other venues.
GPT Director John Rozek said the agreement represents a major endorsement of a cashless payments solution that has been under development since last summer.
“As we anticipated, we have secured card processing services with one of the top three U.K. acquirers—a nationally recognized brand,” he said. “This is a testament of the acquirer’s confidence in GPT’s business plans including the product, the financial structure, the skills within our team and our ability to professionally manage a gambling e-wallet.”
He added: “Financial directors understand the expectations and obligations a Tier 1 acquirer demand and it will give potential customers both here and internationally huge confidence in GPT. It is a major achievement and one which demonstrates that we are a professional payments organization, respected in both the gaming and payments sectors, and able to manage the complexities of a gaming e-wallet service. It confirms we are ready for real players to start enjoying playing without cash in their local pub.”
The four-month process involved scrutiny of GPT’s business and financial plans, director backgrounds, risk assessments, compliance reviews as well as anti-money laundering and counter-terrorism policies.
“Of course it’s fantastic to have secured a Tier 1 acquirer ahead of ICE which represents the last hurdle before we go live,” Rozek said. “It will provide visitors with great confidence in the GPT brand as well as the strength of the infrastructure and the people behind it.”
Game Payment Technology is at Stand #S8-220 at ICE 2020.
